E MEDIA HOLDINGS LIMITED - Trading Statement

Trading Statement

eMEDIA HOLDINGS LIMITED
(formerly Seardel Investment Corporation Limited)
(Incorporated in Republic of South Africa)
Registration number: 1968/011249/06
JSE share code: EMH        IZIN: ZAE000208898
JSE share code: EMN        IZIN: ZAE000209524
(“eMedia Holdings” or “the Group”)


TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed company
is required to publish a trading statement as soon as a reasonable degree of certainty
exists that the financial results to be reported upon next will differ, by at least 20%,
from the financial results for the corresponding period in the prior year.

For the year ended 31 March 2016, shareholders are advised:

   -   Loss per share is expected to range between 12.97 and 15.97 cents per share (2015:
       30.27 cents earnings per share).
   -   Earnings per share from continuing operations is expected to range between 6.34
       and 9.34 cents per share (2015: 32.99 cents), which is a decrease of between 72%
       and 81% compared to the prior year.
   -   Loss per share from discontinuing operations is expected to range between 22.09
       and 22.62 cents per share (2015: 2.73 cents).
   -   Headline earnings per share is expected to range between 6.33 and 8.33 cents per
       share (2015: 41.07 cents), which is a decrease of between 80% and 85% compared to
       the prior year.
   -   Headline earnings from continuing operations is expected to range between 6.98
       and 8.98 cents per share (2015: 39.50 cents), which is a decrease of between 77%
       and 82% compared to the prior year.
   -   Headline losses from discontinuing operations is expected to range between 0.55
       and 0.75 cents per share (2015: 1.57 cents earnings per share).

The decline in earnings per share can be attributed to the sharp decline in the market
share during the previous financial year and the impact it had on advertising revenue
in the Group’s core asset. This together with the current economic climate and the
increased investment into programming to recover the market share has seen profits under
pressure. The Group also continues to re-invest into the multi-channel business for
which very little revenue is currently earned. A further impact on the decline is the
deferred tax on the increase in the inclusion rate of Capital Gains Tax as announced by
the Minister of Finance during the budget speech. Finally the Group continued disposing
of non-core assets which also had an impact.

The financial information on which this trading statement is based has not been reviewed
or reported upon by the Group’s auditors.

The Group’s results for the year ended 31 March 2016 are expected to be published on or
about 25 May 2016.

Johannesburg
24 May 2016

Sponsor
Investec Bank Limited

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